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Paytm Payments Bank announces new UPI-based features
May 10, 2023
Paytm Payments Bank on Tuesday announced a slew of new features for Paytm UPI like UPI Lite on iOS, RuPay Credit Card on UPI and Split Bill, among others.
In February, Paytm Payments Bank went live with UPI Lite, a feature enabled by the National Payments Corporation of India for small value transactions. Around 6 million users have adopted the feature.
The bank has also enabled users to link their RuPay credit cards to an UPI ID on the Paytm app.
Through the new Split Bill feature, users can create friend groups on Paytm and share the bill in any group. Users can also tag the payments made on Paytm, with which they can view all payments made under a certain tag anytime, a press release from Paytm said.
“We continue to drive innovation in India and empower users with the security and safety of Paytm UPI. We have also brought many cool features like split bill, Paytm tags, alternate UPI ID on the Paytm app,” Vijay Shekhar Sharma, chairman, Paytm Payments Bank, said. Sharma is also the chief executive officer of Paytm.
Currently, Paytm Payments Bank has the highest market share in merchant payments and is the largest acquiring bank.
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